The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-03-19
THE BALTIMORE & OHIO SALE.
The Trade Has Been Consummated, but the
Purchasers Names Are Not Yet Known.


Purchasers Names Are Not Yet Known.
New YORK, March IS The World says there
is every reason to believe that Mr.. Henry Grady.
of the Atlanta Constitution, has access to au-
thoritative information as to the arrangement in
regard to the sale of the Baltimore & Ohio from
influential Southern railroad friends in New
York, and that the following statement. sent by
the New York correspondent to the Constitution,
,s based upon the exact facts:
''The dickering is done. The squabble is over,
and the Baltimore & Ohio deal is closed. This
is not a mere rumor. but actual fact. The
trade has been positively effected, and Mr. Gar
rett has decided controlling interest in his great
railroad property to new comers Who the pur-
chasers are IL yet held in profound secrecy but
soEe names that have been prominently con-
nected with the recent negotiation are not down
CO the list. Mr.. Sully has nothing to do with
She purchase and does not, probably, even
know OF it as yet Neither has Mr. Gould any
interest IN the trade, nor is the Terminal
N~@srrany in its corporate capacity a buyer, but
at the same time some Of the leading members
of the Terminal management arc individually in
torested. When this matter is generally known
and the mystery cleared up it will more than
likely have stimulating effect on the general
stock market, and the tape will probably record
considerably higher prices for the majority of
active stocks. The absorbing interest in this
SuDJeCL OF late, ana bno p6rploXlDG uncertainty
of the matter. has been a decided damper
speculation, and tended to materially check the
volume of trade in the Exchange. With regard
20 the future presidency of the Terminal COM
pany, is is now generally known that Mr.. John
Fl. Inman has positively declined to entertain
s-1ha->ideasas rccepting il, anatoday'e rnnsor is
that Mr.. II. S. Hayes, formerly manager of
Goulds Missouri Pacific system, has been solic-
tied to take the position. and that he is consider
ing the matter favorably. Mr.. Hayes's reputa-
: tion a railroad man of consummate ability is
undisputed. and the suggestion OF his name is
received with such universal favor that it Is
even possible Mr.. Sully would be willing to re-
sign in his favor"
Late to day the statement given out, ap-
parently by authority. in Wall street, that the
negotiations for the purchase OF the B. e O..
,-ailroad had been completed, that that road had
been bought by the Stayner Ives syndicate; that
the first deposit of $500, 600 had already been
paid. and that the transfer of the road to the
purchasers would soon be made. The buyers
are known only by their connection with the
purchase OF the Cincinnati Hamilton & Dayton
railroad. The hacker of these parties is report
ed TO be Christopher Meyer, the millionaire rub
Der manufacturer OF this city. There are, it is
asserted, other parties back of the purchase
of any Importance, and. although e. p. Hunt
ington's name is coupled with the Hamilton &
Dayton railroad, he officially denies the connec-
4 tion, and those nearest to him assert to their
personal friends that he has no connection what
ever with the syndicate. The parties holding
the option in the road at first asked exten-
sion, but, when Mr.. Garrett explained that such
large block could not remain tied up, they
withdrew their reqest.
For the first time since the Baltimore & Ohio
Zeal has been pending, Mr.. Sullv to-day broke
ais silence SO far as to say: ''Yes, ! see that
other parties claim to have purchased the con
4rol OF the Baltimore & Ohio. l think they
have made deposit on account. When the
Terminal company decided not to exercise their
option. told the Baltimore & Ohio people that,
while we unanimously desired to combine our
,~.1x. tL ~. ID q
yet could not ask them to consider them
selves in any way bound TO leave the matter
open Therefore, If any disposition has been
made, it is perfectly right and proper"
The purchase is believed to be for speculative
purposes only. 1t is stated that the purchasers
are bnsiy engaged In attempts to raise the bal
snce Of the first ST. 100000 which is to be paid or
Monday. 1t Is also alleged that they are mort
Taging the Baltimore & Ohio property before
hand, in order to raise the money, and that a.
soon they get control disintegration o.
the road will begin.
BALTIMORE, March 18-The announcement
that the deal for the Baltimore & Ohio railroad
is probably concluded has created but little in
rerest In Baltimore. For several days the peo
pie were in state Of excitement, after the mat
ter was first spoken Of but they have settled
down 70 await events. The deal is now but lit
tie talked of, though the belief is general tha
something is being done. Mr.. Garrett is still
- absent, and there is one else connected will
the b. IL O. road who is authorized or will speal
A of it. Many believe that any transfer of III,
4 control of the road will be detrimental to th,
business interests of Baltimore, while intelligen
business men express the belief that this CITY
instead of suffering, will be benefited There
some apprehension that the workshops may b.
removed to some other point. but that could no
be done without considerable loss, and the prom
erty would be comparatively vaueless. TIL
general wish is that the road may find an en-
trance to New York.
CHATTANOOGA, Tenn, March 1s.-The Time
SAYS it has positive information that the B. e. O
Express Company has acquired the expires
franchise on the East Tennessee, Virginia 4
Georgia railroad and all its connections from tn
Southern Express Company. 1t will take charg
- of the entire system within thirty days. Tn
2 Times says that this strongly signifies that tn
b. & o. has been absorbed by the West Poin
Terminal as the latter recently acquired tn
East Tennessee, Virginia g. Georgia road.